3x YoY ARR growth, $10 Million in Series A funding, and major new enterprise customers underscore breakout year for cloud-native identity leader
LOS ANGELES, Feb. 15, 2022 – Britive, a cloud-native dynamic access management platform, today announced record-breaking revenue and new-customer adoption, as well as unprecedented industry recognition for cybersecurity leadership.
In the last 12 months, Britive increased ARR by 3x year-over-year. This growth was driven by 100 percent expansion in its customer base and addition of new customers including an industry-leading insurance group, a Fortune 500 international retail organization, and a Fortune 500 data management company.
“Britive’s cloud-native privileged access solution has enabled us to provide just-in-time temporary console and programmatic access,” said Dustin Goodwin, Head of Cybersecurity at Nayya. “Which lets Nayya app development achieve velocity and protect elevated privileges, while maintaining the principle of zero trust security across all of our cloud environments.”
The company also raised $10 million in Series A funding, led by Crosslink Capital, to accelerate expansion and to build the foundation for the company’s next growth stage.
“We’re seeing a profound shift in the way companies think about balancing business priorities and cybersecurity risks in the cloud,” said Art Poghosyan, CEO & Co-Founder of Britive. “Organizations can’t afford to be slowed down by security, but still need to protect the business-critical applications and infrastructure that traditional methods of securing identity and access miss. Britive gives cloud-forward companies the confidence to achieve business goals and operate in the cloud with a strong security posture.”
Britive continued to innovate in 2021. The company launched its Advanced Data Analytics feature to deliver cross-cloud privilege intelligence and right-sizing recommendations, leveraging Snowflake’s data lake platform. Britive continued to enhance its Just-in-Time cloud privilege management platform with new integrations such as Okta and Google Workspace, and developed its Cloud Secrets Management feature, which is slated for release early this year.
Additional 2021 milestones include:
- Welcomed new leaders. Dan Burns, former CEO of Optiv, joined as a Board Director; Daniel Pagel, former CRO at NetMotion, joined as VP Global Sales; and Mike Patnode, former head of data science at Okta, joined as VP Engineering.
- Partnerships & Channel Growth. Britive forged several strategic go-to-market partnerships and technical alliances with major players like Optiv, Focal Point/CDW, Snowflake, SHI.
- Received Key Industry Recognitions. The 2021 Cybersecurity Breakthrough Awards named Britive the winner of the Cloud Security Startup of the Year. CyberDefense Magazine selected Britive as a Finalist in the Black Unicorn Awards for CyberSecurity Startups 2021. Cybersecurity Excellence Awards named Britive the Gold BadgeWinner for Cloud Privileged Access Management.
Britive is a cloud-native security solution built for cloud-forward enterprises. The Britive platform empowers teams across cloud infrastructure, DevOps, and security functions to control privileged access, mitigate account and data risk, address security health checks and posture audits, and improve operational efficiency. The company does this through enabling cloud-first security best practices such as multi-cloud Just-In-Time (JIT) permissioning, cloud secrets governance, and intelligent privilege right-sizing. Britive was founded by security industry veterans with a track record as successful entrepreneurs and innovators.